Interconnectedness, Systemic Crises and Recessions:
This relatively simple model attempts to capture and integrate four widely held views about financial crises. [1] Interconnectedness among financial institutions (banks) can play a major role in precipitating systemic financial crises. [2] Lack of information about the quality of bank portfolios als...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2015
|
| Schriftenreihe: | IMF Working Papers: Working Paper No. 15 / 46
|
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | This relatively simple model attempts to capture and integrate four widely held views about financial crises. [1] Interconnectedness among financial institutions (banks) can play a major role in precipitating systemic financial crises. [2] Lack of information about the quality of bank portfolios also plays a role in precipitating systemic crises. [3] Financial crises, particularly systemic ones, are often followed by severe, lengthy recessions. [4] Loss of confidence in the financial system is partly responsible for the length and severity of these recessions. In the model, banks make decisions about initiating and liquidating risky loans. Interconnectedness among their asset portfolios can obscure information about these portfolios, causing them to make inefficient decisions about liquidation, and about retention of the managers who assess credit risk. These decisions can increase the depth of recessions, and they can produce systemic financial crises. They can also reduce the effectiveness of future bank risk assessment, increasing the probability of lengthy, severe recessions. The government, acting in the interest of current and future depositors, may wish to increase the transparency of bank portfolios by limiting interconnectedness. The optimal degree of regulation, which may depend on depositors' degree of risk aversion, may not eliminate financial crises |
| Beschreibung: | 1 Online-Ressource (48 p) |
| ISBN: | 1498324088 9781498324083 |
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| index_date | 2024-07-03T20:13:36Z |
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| owner_facet | DE-20 DE-824 DE-70 DE-155 DE-BY-UBR DE-29 DE-22 DE-BY-UBG DE-473 DE-BY-UBG DE-1102 DE-703 DE-859 DE-706 DE-384 DE-860 DE-19 DE-BY-UBM DE-739 DE-355 DE-BY-UBR DE-Aug4 DE-1049 DE-12 DE-91 DE-BY-TUM |
| physical | 1 Online-Ressource (48 p) |
| psigel | ZDB-1-IMF |
| publishDate | 2015 |
| publishDateSearch | 2015 |
| publishDateSort | 2015 |
| publisher | International Monetary Fund |
| record_format | marc |
| series2 | IMF Working Papers: Working Paper No. 15 / 46 |
| spelling | Espinosa-Vega, Marco A Verfasser aut Interconnectedness, Systemic Crises and Recessions Espinosa-Vega, Marco A Washington, D.C International Monetary Fund 2015 1 Online-Ressource (48 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers: Working Paper No. 15 / 46 This relatively simple model attempts to capture and integrate four widely held views about financial crises. [1] Interconnectedness among financial institutions (banks) can play a major role in precipitating systemic financial crises. [2] Lack of information about the quality of bank portfolios also plays a role in precipitating systemic crises. [3] Financial crises, particularly systemic ones, are often followed by severe, lengthy recessions. [4] Loss of confidence in the financial system is partly responsible for the length and severity of these recessions. In the model, banks make decisions about initiating and liquidating risky loans. Interconnectedness among their asset portfolios can obscure information about these portfolios, causing them to make inefficient decisions about liquidation, and about retention of the managers who assess credit risk. These decisions can increase the depth of recessions, and they can produce systemic financial crises. They can also reduce the effectiveness of future bank risk assessment, increasing the probability of lengthy, severe recessions. The government, acting in the interest of current and future depositors, may wish to increase the transparency of bank portfolios by limiting interconnectedness. The optimal degree of regulation, which may depend on depositors' degree of risk aversion, may not eliminate financial crises Online-Ausg Russell, Steven Sonstige oth http://www.elibrary.imf.org/view/IMF001/22388-9781498386029/22388-9781498386029/22388-9781498386029.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Espinosa-Vega, Marco A Interconnectedness, Systemic Crises and Recessions |
| title | Interconnectedness, Systemic Crises and Recessions |
| title_auth | Interconnectedness, Systemic Crises and Recessions |
| title_exact_search | Interconnectedness, Systemic Crises and Recessions |
| title_exact_search_txtP | Interconnectedness, Systemic Crises and Recessions |
| title_full | Interconnectedness, Systemic Crises and Recessions Espinosa-Vega, Marco A |
| title_fullStr | Interconnectedness, Systemic Crises and Recessions Espinosa-Vega, Marco A |
| title_full_unstemmed | Interconnectedness, Systemic Crises and Recessions Espinosa-Vega, Marco A |
| title_short | Interconnectedness, Systemic Crises and Recessions |
| title_sort | interconnectedness systemic crises and recessions |
| url | http://www.elibrary.imf.org/view/IMF001/22388-9781498386029/22388-9781498386029/22388-9781498386029.xml |
| work_keys_str_mv | AT espinosavegamarcoa interconnectednesssystemiccrisesandrecessions AT russellsteven interconnectednesssystemiccrisesandrecessions |